secwatch.observer — SEC 8-K summary
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Issuer:     Functional Brands Inc. (MEHA)
CIK:        0001837254
Form:       8-K
Filed at:   2026-05-22T13:06:17+00:00
Accession:  0001213900-26-060328
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Functional Brands to acquire BullionFX's Alchemy gold-backed DeFi platform for $142.9M in stock
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- Transaction valued at $142.9M paid in 100,000 shares of new Series D Preferred Stock; conversion to common (98.28% of outstanding) requires stockholder approval.
- Acquisition of Alchemy, a blockchain-based settlement platform anchored by physical gold; target closing Q2/Q3 2026 subject to due diligence, regulatory approvals, and $10M equity financing.
- Series D Preferred Stock has liquidation preference of 2x stated value (~$285.8M), grants seller a board seat, and includes protective provisions on major corporate actions.
- Break-fee of $100k (or $2M if superior proposal emerges); seller may receive up to $100k expense reimbursement.
- Press release quotes CEO Eric Gripentrog and founder Stephen Moss on strategic rationale; management expects to use MEHA as consolidation vehicle in tokenized gold DeFi.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1837254/000121390026060328/0001213900-26-060328-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1837254/000121390026060328/ea0291983-8k_functional.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-060328

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer